Last year's return was done by an accountant, so that 2023 Return was showing a QBI Carryforward Loss, I can't find where/how to enter prior year that value so it doesn't get lost in the future. My business didn't have activity in 2024 so it will be all zeroes, but I am think I might have some activity this year and would like to carry the loss to be used against the business income later.
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QBI loss carryforward can be entered into TurboTax Desktop Premier.
To clarify, what business are you reporting (with no income) using TurboTax Premier?
Usually QBI carryover is entered in that section of the software.
I am a fencing coach. In 2024 I was employed on W2, but will be doing this as self employed in 2025. When I entered business there was no interview question about carryforward QBI.
Which section of the interview is asking about carryforward? .
In TurboTax Online, enter QBI carryforward as follows:
Those losses carry over indefinitely until completely offset by positive QBI.
[Edited 01/29/25 | 9:45 pm PST]
I am using desktop version of Premier, can yiu please verify of it has the same steps.
QBI loss carryforward can be entered into TurboTax Desktop Premier.
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